1h
BRENT - Five waves as potential final wave of ZIGZAG.If there is a reversal, these double ZIGZAGs could be part of a flat ABC on daily.
Good luck!
DOUBLE DESCENDING TRIANGLE ON 4H AND 1H TF + FUND. ANALYSISLong time no post. I'm currently short at GBP/JPY 4H chart.
Fundamentals : In the short-term there is no clear fundamental driver for GBP, but for the long-term outlook Brexit and its development would still be the driver for GBP to go lower. Many analysts predict that Brexit would eventually hit UK GDP and there-fore has a bearish bias on the GBP. This is accompanied by bullish bias on JPY due to recent geo-political turbulence between US and several middle east countries (Syria & Afghanistan). This fundamental combination can lead to a further downward pressure on GBP/JPY.
Technicals :
As seen on the chart, the desecending triangle on 4H TF has been formed and followed by a break-down. The next triangle (clearly visible on 1H) has been formed and also followed by a break-down, gives a very strong bearish signal. Meanwhile, on the higher TF (daily) price has finally closed below the previous swing low at 136.45 indicating a bearish rotation in the higher TF.
Execution :
I've already shorted the market at 137.16 when I saw bearish momentum started to pick up before the break-down occurred. Currently my SL is at 137.52 (has been rolled-down to minimize risk) and am shooting for a Target at 130.22. Giving me an almost 20 to 1 R/R Ratio. My plan is to manage this trade as price moves in my expected direction, which means I'm willing to further reduce my risk by lowering my SL according to price action.
For you guys who's still flat. You can look to get short at market or waiting for a small pull-back. Hope this one helpful, and fell free to let me know what you guys think.
Thankyou.
Fedro Christian
UKOIL - Five waves completion: correction time for daily ZIGZAGThese five waves could be an "A" wave. If breakout occurs, the retracement of the "B" wave (hourly correction) may reach the 38.2% (as you can see on chart).
Happy trading!
1H MAJOR ZONE, SHORT OPPORTUNITY ON USD/JPYShorting USD/JPY @ 108.573
1H Major Zone
Trend Line
Price Action is Currently in a DOWN TREND
BTC/BRL (Kraken) 1hLooks like we're in a bearish channel, possibly finding support at 1100 (38.2% fib retrace of previous major low at end of March) or 1060 (50% fib retrace).
Should bounce off support back to 1200 or 1220 previous resistance areas by last week of April.
UKOIL - Elliott wave count for BRENTIt is an impulse. It is completing five-waves as third wave extension. The last strong hourly downtrend was a ZIGZAG.
Happy trading!
GOLD/DOLLAR - Potential ZIGZAG before the BIG SHORT!It assembles more likely a ZIGZAG to the upside.
On daily chart I am assuming that an ABC has formed as second wave. My forecast for long term is BEARISH.
LIKE & FAVORITE to be updated.
Cheers!
EURUSD LONGLooking for a nice pull back to enter my position. Hoping to see price bounce off support.
EUR USD Bearish Divergence Aggressive & Conservative Entry IdeaBearish Divergence seen on 60min chart
Two entries all information on chart.
This is my own view and is not any form of advice for trading, please yrade safely and at your own risk. I wont be held responsible for your account if you loose or make money.
Good luck.
USDCAD 1H Potential Bullish Gartley OpportunityHello traders,
Check out an opportunity on the hourly USDCAD with a potential bullish gartley completion at around 1.3310. T1 at 1.3334 with a potential extended target either at retest of previous high or some fib retracement.
If this helps, this it a like !
Enjoy !
GBPJPY 1H Potential Bullish Gartley PatternHello traders,
Check out a potential bullish gartley advance pattern on the 1H GBPJPY chart. Good risk/reward profile.
If this helps give it a like !
Enjoy !
CADCHF Long PositionThis indicator made me 10% on my testing demo account on the last batch of trades.
Bullish momentum gaining as evident by the chart, price in support area.
AUDCHF Long PositionPrice oversold during uptrend
Of course, indicator says to buy.
I don't set a stop loss or profit, but this is for proof.
I manually close trade.
/CL long 1:2+ Risk/Reward on 1H CHART ($300 risk / $600+ reward)When you see that kind of pattern where a big candle hits a support zone and multiple candles test it without success, it's wise go against it. MACD has started turning. There's a good possibility that the market will go beyong the 49,50~ price, you'd have to determine how strong the market is at that point.
